Which Northeast Florida city was ranked as a top location for corporate headquarters?

A study has listed Ponte Vedra as one of the best spots for corporate headquarters post-pandemic.

The Boyd Co., a corporate site selection consultant based in Princeton, New Jersey, conducted the national study. The results reflect a growing landscape of remote work as well as moves away from more traditional hubs for head offices, like Chicago, New York City or Silicon Valley.

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Among the list, which factored in operating expenses and state tax structures, Ponte Vedra also achieved the top spot for costing the least for East Coast corporate headquarters.

Here's a look at the results:

What factors did the study look at?

The study looked at annual operating expenses and state tax structures to analyze the cost of operating a new, top tier Class A, 75,000-square-foot corporate headquarters with 200 administrative support workers.

The estimated outlay in Ponte Vedra was roughly $18.5 million a year.

The most expensive location on the list was Everett, Washington, at $21.1 million while the cheapest was East Brainerd, Tennessee, at $17.8 million. Sarasota was the next most cost-efficient location in Florida at just about $100,000 more than Ponte Vedra annually.

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The study factored in all major geographically-variable cost factors considered critical to the corporate site selection process, including labor, real estate, construction, utilities, taxes and travel.

The Boyd Co. provides independent location advice to U.S. and overseas companies. Its clients include JP Morgan Chase, Dell, HP, Boeing, Royal Caribbean Cruises, Shell and other Fortune 500 companies.

The study described Northeast Florida as “home to major operations of Deutsche Bank, CIT, Florida Blue, Bank of America, The Mayo Clinic, CSX, PGA TOUR and others.” 

It also noted Ponte Vedra is 30 minutes from both Jacksonville International Airport – “one of the fastest growing mid-sized airports in the U.S.” – and the Northeast Florida Regional Airport in St. Augustine.

Florida cities dominate the list

Ponte Vedra is among a total of 30 cities identified as meeting the "new headquarters relocation drivers."

The top three in the country are: Minden, Nevada, in the western region; East Brainerd, Tennessee, in the central region; and Ponte Vedra in the eastern region.

Eight of the top cities are in Florida. The others are:

• Aventura
• Boca Raton
• Lake Mary
• Palm Bay
• Sarasota
• Sunrise

Nationally, the main drivers behind the selection of new headquarters locations include tax advantages, which can be found in Florida, where there's not a state income tax and corporate taxes remain relatively low.

Naples Daily News staff writer Laura Layden contributed to this report.